When a security in deposit matures or when any yield on such a security ceases to accrue, the principal office of the Reserve Bank shall not be bound to inform the banking company; but upon the receipt of a requisition in writing from the banking company the principal office of the Reserve Bank, shall, as soon as possible, collect the discharge value and hold the amount in deposit for purposes of sub-section (2) of section 11 of the Act.
Section 9: Maturing of Security Deposits
Banking Regulation (Companies) Rules 1949Central Rules · 1949
Where this provision sits
| Act | Banking Regulation (Companies) Rules 1949 |
|---|---|
| Section | 9 |
| Marginal note | Maturing of Security Deposits |
| Jurisdiction | Central |
| Status | In force as published by the source |
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